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Questions and Answers
According to the Recognition of Trusts Act 1987, which of the following is true about the Hague Convention on the Law Applicable to Trusts and on their Recognition?
According to the Recognition of Trusts Act 1987, which of the following is true about the Hague Convention on the Law Applicable to Trusts and on their Recognition?
- It does not make any changes to the existing law in the United Kingdom
- It is primarily intended to assist common law countries
- It aims to establish common principles between states on the law of trusts (correct)
- It only applies to trusts created voluntarily and evidenced in writing
According to the Recognition of Trusts Act 1987, which of the following is true about the choice of law for a trust?
According to the Recognition of Trusts Act 1987, which of the following is true about the choice of law for a trust?
- The choice of law must be interpreted in the light of the circumstances of the case
- The choice of law must be implied in the terms of the trust instrument
- The choice of law must be express
- The settlor can choose the law to govern the trust (correct)
According to the Recognition of Trusts Act 1987, which of the following factors should be considered in determining the law with which a trust is most closely connected?
According to the Recognition of Trusts Act 1987, which of the following factors should be considered in determining the law with which a trust is most closely connected?
- The place of administration of the trust designated by the settlor
- The situs of the assets of the trust
- The place of residence or business of the trustee
- All of the above (correct)
Study Notes
Hague Convention on the Law Applicable to Trusts and their Recognition
- The Hague Convention on the Law Applicable to Trusts and their Recognition is recognized by the Recognition of Trusts Act 1987.
Choice of Law for a Trust
- The Recognition of Trusts Act 1987 governs the choice of law for a trust.
Determining the Law with which a Trust is Most Closely Connected
- The Recognition of Trusts Act 1987 considers the following factors in determining the law with which a trust is most closely connected:
- The place of administration of the trust
- The jurisdiction where the trust assets are located
- The jurisdiction where the trustee is resident
- The intentions of the settlor
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Description
Test your knowledge on the Recognition of Trusts Act 1987 and the Hague Convention on the Law Applicable to Trusts. This quiz covers the key provisions and principles regarding the recognition of trusts in the United Kingdom and civil law.
